Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries
AbstractThis study aims at empirically investigating the drivers of sustainable economic growth in EU-28 countries. By means of panel data regression models, in the form of fixed and random effects models, alongside system generalized method of moments, we examine several drivers of real gross domestic product (GDP) growth rate, as follows: higher education, business environment, infrastructure, technology, communications, and media, population lifestyle, and demographic changes. As regards higher education, the empirical results show that expenditure per student in higher education and traditional 18–22 year-old students are positively linked with sustainable economic growth, whereas science and technology graduates negatively influence real GDP growth. In terms of business environment, total expenditure on research and development and employment rates of recent graduates contributes to sustainable development, but corruption perceptions index revealed a negative association with economic growth. As well, the results provide support for a negative influence of infrastructure abreast technological measures on economic growth. Besides, we found a negative connection between old-age dependency ratio and sustainable economic growth. View Full-Text
Share & Cite This Article
Armeanu, D.Ş.; Vintilă, G.; Gherghina, Ş.C. Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries. Sustainability 2018, 10, 4.
Armeanu DŞ, Vintilă G, Gherghina ŞC. Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries. Sustainability. 2018; 10(1):4.Chicago/Turabian Style
Armeanu, Daniel Ş.; Vintilă, Georgeta; Gherghina, Ştefan C. 2018. "Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries." Sustainability 10, no. 1: 4.
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.